Organizational Structure of the Corporation

The Corporation shall be managed and supervised by a Board of Directors headed by the Governor of the Central Bank and its members are one of the Governor's Deputies/ to be titled as Vice-Chairman by the Chairman, Secretary-General of the Ministry of Finance, Company Controller at the Ministry of Industry and Trade, General Manager of the Corporation and two Members expert in the economic and financial affairs to be appointed upon a decision made by Council of Ministers upon a submission made by the Governor.

The Board shall practice the authorities of the Boards of Directors of the public joint-stock companies for which provided in the Company Law to the extreme extension provided not to go in conflict to the Provisions hereof.

To enable the Corporation to achieve the targets for which it was established, an administrative organization has been developed to distribute its operations and obligations to administrative units "departments and units" to carry out limited responsibilities and authorities containing the achievement of the Corporation targets. As for Department and Units, they are as follows:

Liquidation Department:

Liquidation Department shall carry out the tasks vested on the Corporation as a liquidator of any bank decided to be liquidated according to the provisions of its law and any regulations or decisions made pursuant thereto. It shall work toward establishing and developing various policies for the liquidation process in order to effectively and proficiently execute its procedures. The Department shall also prepare, develop and manage the procedures of indemnifying the depositors under the Provisions of its law and any regulations or decisions made pursuant thereto. The Department consists of the following Divisions:

1. Banks Monitoring and Liquidation Division:

Bank Monitoring and Liquidation Division shall manage the procedures of the process of indemnifying the depositors in accordance with the provisions of the Corporation Law and the decisions and provisions made by virtue thereof. It shall join the parties of Bank Inspection and participate in exchanging information with the Central Bank. In addition, the Division shall analyze the situations of the bank listed in "Under Control" and manage the Corporation relations to the Central Bank with regard thereto. It shall also carry out the procedures of banks liquidation according to the Corporation Law and any decisions or provisions established in implementing thereof.

2. Research,Technical and Legal Advisory Division:

The Research, Technical and Legal Advisory Division shall take the measures necessary for managing and supervising the legal and judicial procedures and works of the liquidation process in addition to providing the Corporation with various legal consultations. Moreover, it shall make studies and researches of handling and liquidating the tripped banks, and the ways of indemnifying depositors.

Insurance and Risk Management Department

This Department shall manage risks and suggest, execute and go on developing deposit guarantee policies at the Corporation in conformity with ensuring the establishment of the required standards of motivations for the depositors in order to impose market discipline, and for banks to motivate them toward a better management of their risk levels. Insurance and Risk Management Department consists of the following Divisions:

1. Financial Analysis and Risk Management Division:

It assumes the tasks of analyzing and studying the economic situations and indications; activity of the financial and monetary markets related to the bank system affection; financial analysis of the bank sector including the analysis of insurance policies tendencies of the bank sector deposits; periodical financial analysis of the financial individual data for the licensed banks; making financial and analytic predictions and studies and presenting recommendations thereof; and taking measures necessary for preparing and developing subscription fee system modified with risks.

2. Insurance Division:

Insurance Division assumes to prepare and adopt the measures necessary for overview on bank accounts and work results thereof for the Central Bank; to take the measures necessary for deposit data auditing for the banks holding membership; to manage fees, fines and delay interests incurred for the banks holding membership under the Corporation Law; and make studies for the purpose of continual development of deposit guarantee system and presenting recommendations thereof.

Financial and Administration Department

It undertakes to provide the Corporation with its need to employees, devices and equipments and to maintain them and take the measures necessary for paying the subjective and administrative expenses; and to keep the central and accounting registers. The Financial and Administration Department consists of the following Divisions:

1. Administrative Affairs Division:

It shall administrate the human resources at the Corporation; and watch the Supplies Department operations at the Corporation including providing, maintaining and keeping them. In addition to manage and provide the supporting services necessary for the Corporation operations.

2. Financial and Accounting Division:

This Division shall manage the financial resources of the Corporation; administrate the accounting system of the Corporation; preparing, observing and executing the estimative budget; As well, preparing Annual Financial Statements for the corporation and taking the measures necessary for settling expenditures and receiving revenues.

International and Public Relations Department

The International and Public Relations Department shall manage the Corporation relations outside and inside Jordan. This Department consists of the following Divisions:

1. International Relations Division:

It assumes the management of the external relations to the Regional and International Deposit Insurance Corporations; management of the international relations to the International Association of Deposit Insurers (IADI); management of activities of the Regional Committee on Middle East and North of Africa; management of the Corporation relation to the exterior committees in which it participates; and contribution to management of the activities organized by the Corporation (conferences, seminars….etc)

2. Internal Relations Division:

This Division shall manage and execute various media enlightenment activities; take the measures necessary for preparing the annual report of the Corporation; work toward managing communication with the banks holding membership; take the measures necessary for managing and observing the local activities for the General Manager Office; receive the Corporation guests; take the measures necessary for managing and observing the local activities of the Corporation; and contribute to managing the activities organized by the Corporation (conferences, seminars….etc)

Investment and Financing Unit

This Unit shall administrate the investments of the Corporation's funds including depositing its necessary funds with any bank; manage the finance to settle the liabilities incurred upon it in pursuance of its Law provisions; and it shall especially have the right to carry out the following tasks:

1. To take the measures necessary for administrating the Corporation investments;

2. To suggest mechanisms, strategies and plans of investing the Corporation funds; and

3. To take the measures necessary for administrating finance operations.

Internal Audit Unit

This Unit shall verify the authentication and correctness of the Corporation various activities; and submit its recommendations of examination, evaluation and analysis of the Corporation various managements in order to proficiently and effectively upgrade its liabilities. It shall also have the right to carry out the following tasks:

1. To contribute to development of the risk management by assisting in the risk specification and evaluation.

2. To evaluate the efficiency and proficiency of the internal control system by assisting in keeping an effective control system.

3.  Contribute to the evaluation and development of the Corporational control procedures.